Adam is once again making his weekly visit to the local snack shop to purchase his favorite chocolate bar. He wonders aloud, "What's the price going to be today?" Three weeks ago he paid $1.50, two weeks ago $1.75, and last week $1.60. The clerk says "$1.60, please." The price remained the same! Well, imagine that.
In this lesson, you will discover how the forces of supply and demand ultimately work together to determine the price of chocolate bars and other goods as well.